Illinois legislation · 104th General Assembly
Illinois HB12: ESTATE TX-EXCLUSION AMOUNT
Status: In committee, September 21, 2026
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount from $4,000,000 to $6,000,000 for persons dying on or after January 1, 2026. Effective immediately.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB0012Introduced 1/9/2025, by Rep. Dave SeverinSYNOPSIS AS INTRODUCED: ILCS 405/2from Ch. 120, par. 405A-2 35 ILCS 405/2 from Ch. 120, par. 405A-2 ILCS 405/2 from Ch. 120, par. 405A-2 Amends the Illinois Estate and Generation-Skipping Transfer Tax Act.Increases the exclusion amount from $4,000,000 to $6,000,000 for personsdying on or after January 1, 2026. Effective immediately…
From the introduced text, December 4, 2024:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB0012Introduced 1/9/2025, by Rep. Dave SeverinSYNOPSIS AS INTRODUCED: ILCS 405/2from Ch. 120, par. 405A-2 35 ILCS 405/2 from Ch. 120, par. 405A-2 ILCS 405/2 from Ch. 120, par. 405A-2 Amends the Illinois Estate and Generation-Skipping Transfer Tax Act.Increases the exclusion amount from $4,000,000 to $6,000,000 for personsdying on or after January 1, 2026. Effective immediately. LRB104 03340 HLH 13362 b LRB104 03340 HLH 13362 b LRB104 03340 HLH 13362 b A BILL FOR HB0012LRB104 03340 HLH 13362 b HB0012 LRB104 03340 HLH 13362 b HB0012 LRB104 03340 HLH 13362 b AN ACT concerning revenue. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5.The Illinois Estate and Generation-Skipping Transfer Tax Act is amended by changing Section 2 as follows: (35 ILCS 405/2)(from Ch. 120, par. 405A-2) Sec. 2.Definitions. "Federal estate tax" means the tax due to the United States with respect to a taxable transfer under Chapter 11 of the Internal Revenue Code. "Federal generation-skipping transfer tax" means the tax due to the United States with respect to a taxable transfer under Chapter 13 of the Internal Revenue Code. "Federal return" means the federal estate tax return with respect to the federal estate tax and means the federal generation-skipping transfer tax …
Sponsors
- Dave Severin (R, 116) · primary sponsor
- Tony M. McCombie (R, 89)
- Jay Hoffman (D, 113)
- Regan Deering (R, 88)
Latest actions
- : Added Co-Sponsor Rep. Regan Deering
- : Rule 19(a) / Re-referred to Rules Committee
- : To Tax Policy: Other Taxes Subcommittee
- : Added Co-Sponsor Rep. Jay Hoffman
- : Assigned to Revenue & Finance Committee
- : Added Co-Sponsor Rep. Tony M. McCombie
- : Referred to Rules Committee
- : First Reading
- : Prefiled with Clerk by Rep. Dave Severin
Subjects: ILCS 35 - Revenue
Common questions
- What is HB12?
- HB12 is a bill in the Illinois Legislature (104th General Assembly): ESTATE TX-EXCLUSION AMOUNT.
- What does HB12 do?
- In its own words: A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB0012Introduced 1/9/2025, by Rep. Dave SeverinSYNOPSIS AS INTRODUCED: ILCS 405/2from Ch. 120, par. 405A-2 35 ILCS 405/2 from Ch. 120, par. 405A-2 ILCS 405/2 from Ch. 120, par. 405A-2 Amends the Illinois Estate and Generation-Skipping Transfer Tax Act.Increases the exclusion amount from $4,000,000 to $6,000,000 for personsdying on or after January 1, 2026. Effective immediately…
- What is the status of HB12?
- In committee as of September 21, 2026. Latest action: Added Co-Sponsor Rep. Regan Deering (September 21, 2026).
- Who sponsored HB12?
- Dave Severin (R, 116), with 3 co-sponsors.
- Where is the official record for HB12?
- On the Illinois Legislature website: https://www.ilga.gov/Legislation/BillStatus?DocNum=12&GAID=18&DocTypeID=HB&SessionID=114
Source: official Illinois record. Tracked by Delilah, AI for legislation across all 50 states and Congress.